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Simple English definitions for legal terms

alter-ego rule

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A quick definition of alter-ego rule:

The alter-ego rule is a legal principle that applies to corporations. It means that in certain situations, the shareholders of a corporation will be treated as the true owners of the corporation's property or assets. This is done to prevent fraud or to ensure fairness in legal proceedings. Essentially, the alter-ego rule allows for the piercing of the corporate veil, which means that the legal separation between the corporation and its shareholders is disregarded in certain circumstances.

A more thorough explanation:

The alter-ego rule is a legal principle that applies to corporations. It states that shareholders will be considered the true owners of a corporation's property or assets, or the real parties involved, if it is necessary to prevent fraud or ensure justice.

For example, if a corporation is created solely for the purpose of shielding its owners from personal liability, and the corporation is used to commit fraud or other illegal activities, the alter-ego rule may be applied. In this case, the shareholders would be held responsible for the corporation's actions and could be sued or held liable for damages.

Another example would be if a corporation is used to hide assets or income from creditors or legal judgments. In this case, the alter-ego rule could be applied to pierce the corporate veil and hold the shareholders personally responsible for the debts or obligations of the corporation.

The alter-ego rule is an important legal principle that helps ensure that corporations are not used to shield individuals from liability or to commit fraud or other illegal activities.

altercation | altering or amending a judgment

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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